In Texas, the formula that is used to calculate child support is designed so the amount that is calculated is in the best interest of the child. Therefore, child support is calculated by figuring the average net monthly income or resources of the payer.
According to guidelines set by the Texas legislature, a percentage of these resources is paid based on the number of children. The percentages will be a bit different if the payer is legally supporting children who are not part of the divorce settlement.
First, Determine the Gross Earnings
Therefore, a child support lawyer in Orange, Texas can assist you in calculating the payment. In order to initiate the process, you need to determine the annual gross income of the payer. Gross income is the amount that is received from earnings and therefore is the income that is earned before social security and taxes are deducted.
Your child support lawyer knows what to include or not include in the yearly gross income. Normally, the income that is included represents 100% of the payer’s salary or wage income and related compensation including dividends, interests, and royalty income. Self-employment income may be included as well as net rental income.
Other Forms of Income
Other forms of income that may be added by a child support lawyer include unemployment benefits, capital gains, trust income, severance pay, worker’s compensation, spousal maintenance, or child support.
Once the gross income is determined, you can have your Orange child support lawyer subtract the social security, state, and federal income taxes to obtain the average net monthly resources. Typically, for one child, the payer must remit 20% of his or her net resources or 25% of his or her net resources for two children. For three and four children, the required percentages climb to 30% and 35% respectively.
Naturally, these are just general examples. To obtain further information, you need to contact a child support lawyer to determine how to proceed with a child support request.